RES 94111 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 94-111 A RESOLUTION AUTHORIZING ~ EXECUllON AND DELIVERY OF AN AMENDMENT TO 'I~H~ INDENTURE, A YINANCING AGIIIRRMENT AND O'iltER DOCUMYANTS llELATING TO TH R Cll'lf OF PI.RASANTON VARIABI.F. RATE MULllFAMILY MORTGAGE REVEaNUE DEMAND BONDS (VALLEY PLAZA II APARTMENTS), 1989 ISSUE A the City of Ple~nton (the "Issuer") has previously issued its City of Pleasanton Variable Ram Multifamily Mortgage Revenue Demand Bonds (Valley Plaza 11 Apartments), i989 Issue A (the "Bonds") pursuant to Article 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Cede of the State of California, and entered into an Indenture dated as of October 1, 1989 (the "Indenture"), between the Issuer and First Trust of California, National Association, as successor to Bankers Trust Company of California, National Association, as trusten (the "Trustee"); and the Issuer and 700 Market Associates XV and Humboldt Court Associates Six (collectively, the "Borrower"), entesed into a Loan Agreement dated as of Octobe~ 1, 1989 (the "Loan Agreement"), providing for the loan of the proceeds of the Bonds to the Borrower and providing for repayment of such loan to secure the Bonds; and WHEREAS, the Bonds axe further secured by a letter of credit issued by First Nationwide Bank, a Federal Savings Bank (the "E0tisting Credit Facility"); and in order to provide for the replacement of such Existing Credit Facility with a collateral arrangement provided by the Federal National Mortgage association (the "New Credit Facility") the providers of the Existing Credit Facility and the New Credit Feeility have requested that the Issues and the Borrower tenninatu the Lean Agreement and that the Issuer enter into an amended and restated indenture of trust and a financing agreement in the respective forms of thg Amended end Restated Indenture of Trust end the Financing Agreement before this meeting; and WHEREAS, the Issuer desires to accommodate such request; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: